Singapore & US life cost comparison

[JR8]

I thought it was a barbaric 10 days (2 weeks but we're talking the same thing).

Is this a bare minimum by law or just universally accepted?

Sorry I missed your earlier one Brah: My mistake, it was 10 working-days off.

That came as a bit of a shock to the system as I relocated there from London where I got a basic 20 days, +5 days (for 5yrs employment), +5 days (for 10 years employment), = 30 working days off a year!

Not that I ever got to use the additional days, it wasn't in the culture to have a job like that and take that much leave. And sadly the leave was on an annual 'Use or lose' basis, i.e. no rolling over unused leave to future years, and no pay-out on it either.

[alittlerisky]

So what was your little outburst about? You did not expect this board to be populated by the US gov officials, did you?

My outburst was about being called misinformed and prejudiced. I have lived all over the world, I have degrees in Law and French, MSc's in Law and Applied Mathematics, a PhD in Deivatives Pricing and Risk. I have been owrking for international companies/banks for 15 years. I own a library of over 5000 books. I speak/write 4 languages, I speak another 4. I read on average a book every two days. How can I be ill-informed and prejudiced? Arrogant possibly, but not ill-informed and prejudiced.

[zzm9980]

I would like to know about the process of applying for H1B visa, is this like vink2 mentioned that applying for this year must before March so that ppl can start working on Oct? That's like 7 months gap. Also, can the H1B pass holder sponsor a dependent pass for her/his spouse like DP in Singapore? (h4 visa isn't it?)
Also, with few years of experience in IT/Finance (I work for a hedge fund as developer in Singapore), what would be your advise between applying directly to the company or going through recruitment agents?

Thanks zzm.

@Brah: yup, it's 'prospects', not 'prospectives'... sorry for my bad English

You shouldn't worry about the H1b. Apply for companies and let them worry about getting it for you. Note a lot of jobs will say "Only those who can legally work in the US" should apply. That means they won't sponsor you. If you don't see that, apply away!

For finding a job in the US, I recommend LinkedIn and applying directly; same as I recommend in Singapore.

[JR8]

I remember hearing "American Number One, Russia Number Ten!" a number of times

haha too funny. I've noticed the Vietnamese have an affinity for using English and calling anything they like "Number 1" and anything they don't like "Number XX" where XX is some large number like 10, 100, or 500. The bigger the number the less they like it. At least the random ones I've met. Must be some translation thing I'm not aware of.

Is that why their most popular beer is 'Bahmi-bah' ('33'), because it's not very good?

p.s. My own impression of VN was the warmth of the welcome goes with the climate. In the south they seemed genuinely thrilled to see Anglo-Saxon visitors (well, certainly in '89 they were. Still welcoming but less OTT effusive second time I went in '95. Last time I went in c.'09 it'd almost completely toned down to 'normality'.

Back in '95 I travelled from Saigon to Hanoi. We started getting some abuse on the street at Da Nang, to our faces, (I can reconcile that in the historical context, so you suck it up). In Hanoi I don't recall open abuse, but several times a day you'd get people on the street just stop-dead as you approached and give you a pretty withering stare.

Ironic as it was the Brits that kept the Japanese invasionary force out of VN at the end of WW2. But hey there you go, racism is often 'blind'.

[x9200]

So what was your little outburst about? You did not expect this board to be populated by the US gov officials, did you?

My outburst was about being called misinformed and prejudiced. I have lived all over the world, I have degrees in Law and French, MSc's in Law and Applied Mathematics, a PhD in Deivatives Pricing and Risk. I have been owrking for international companies/banks for 15 years. I own a library of over 5000 books. I speak/write 4 languages, I speak another 4. I read on average a book every two days. How can I be ill-informed and prejudiced? Arrogant possibly, but not ill-informed and prejudiced.

Forgive me, your list of skills, experience and family tree are all truly impressive, but how this prove you are free from the prejudices?

If I am not mistaken this all started with you saying "I'm sure I read somewhere that a huge number of US citizens cannot even point to to the USA on a world map." It does not sound to me like a well backuped but rather controversial and pot stirring statement so hard to think you are neutral and purely objective.

[Brah]

So what was your little outburst about? You did not expect this board to be populated by the US gov officials, did you?

My outburst was about being called misinformed and prejudiced. I have lived all over the world, I have degrees in Law and French, MSc's in Law and Applied Mathematics, a PhD in Deivatives Pricing and Risk. I have been owrking for international companies/banks for 15 years. I own a library of over 5000 books. I speak/write 4 languages, I speak another 4. I read on average a book every two days. How can I be ill-informed and prejudiced? Arrogant possibly, but not ill-informed and prejudiced.

Or, maybe you're just a loony: http://www.youtube.com/watch?v=pnq96W9jtuw=#t=1m36s

[Mi Amigo]

Arrogant possibly...

Surely not.

BTW, Did I tell you about my uncle in the Liechtenstein Navy? He probably knows at least one of your well-connected relatives.

Damn. I promised myself I wouldn't rise to the bait. Damn.

[sundaymorningstaple]

I'm finding it rather difficult as well.....

[Brah]

I have lived all over the world, I have degrees in Law and French, MSc's in Law and Applied Mathematics, a PhD in Deivatives Pricing and Risk. I have been owrking for international companies/banks for 15 years. I own a library of over 5000 books. I speak/write 4 languages, I speak another 4. I read on average a book every two days. .....

Sorry, couldn't resist, this came to mind when reading this: http://www.dailymotion.com/video/xc94j_ ... naire_news

[JR8]

I'm finding it rather difficult as well.....

Yes, how many times I have heard the 'I am...' script from dreamers and Walter Mittys.

p.s. ALittleRisky. How would you go about getting an audit-passing MTM on a derivative off an OTC SE Asian corporate bond traded by say only two other banks in Asia? Would you take one valuation from the guy who sold it to you, and if not why not?

I faced this c.20 years ago. I'd be interested how 'a guru' would overcome it now.

[zzm9980]

Would you take one valuation from the guy who sold it to you, and if not why not?

I would if it was a nice guy like you JR8.

[alittlerisky]

p.s. ALittleRisky. How would you go about getting an audit-passing MTM on a derivative off an OTC SE Asian corporate bond traded by say only two other banks in Asia? Would you take one valuation from the guy who sold it to you, and if not why not?

I faced this c.20 years ago. I'd be interested how 'a guru' would overcome it now.

Frankly, no I wouldn't. You never take prices from people who have sold you stuff. That's pretty silly.

I would prolly use some modified Black Scholes pricing if there was optionality (convertible or callable bond). Or else use bi or tri nomial pricing (accurate but system intensive). Or maybe Hull & White Tree.

You have to factor in your credit spread too. Price of a credit (non-default) curve based over life of bond. Again, basically just guess work. Like default probabilty in one month err... 2%, three monts maybe 5 % and so on.

Then discount your future cash on some interest curve based on deposit then maybe futures and swap point to get PV.

Strangely, my personal pricing philosophy does not have a mathematical basis. Basically, if the question is "how much is this?", the answer is "how much have you got?". The price of an option is basically what someone will pay for it.

But you have to do the maths for the banks.

[vink2]

What about retirement in US? I heard that GOV pay no more than 2000USD per month. Is it possible to live for this money?

[sundaymorningstaple]

$2513/month if you were to retire at the age of 66 this year and had paid in the maximum allowable from the age of 21 years till retirement.

And no, it won't go very far unless your home is paid for and your health is good.

[vink2]

$2513/month if you were to retire at the age of 66 this year and had paid in the maximum allowable from the age of 21 years till retirement.

And no, it won't go very far unless your home is paid for and your health is good.

It seems to me that it won't be smart to live in US for this money.
Thailand, probably, will be better off.